Ford hopes its Western region franchise dealers benefit from another campaign not only meant to promote the 2011 Fiesta but also undiscovered musical talent. The promotion called “Gimme the Gig” is branded as a multimedia campaign integrating experiential, social and digital interactions while building awareness around the Fiesta. Unsigned musicians throughout the U.S. are currently […] [Read More]

Copart is venturing into the social networking space with its newest marketing strategy while incorporating its auto racing sponsorship into the campaign. To better harness the additional platforms to reach new audiences, Copart is teaming up with Roush Fenway Racing driver Carl Edwards for a promotion and online charity auction of his personal memorabilia.  Promotion […] [Read More]

Insurance Auto Auctions is about to broaden its charitable work into a national philanthropic campaign meant to boost benevolent organizations as well as be a greater enhancement for the environment. Company officials said the campaign dubbed, “One Car One Difference” officially kicks off in early December. The initiative calls on individuals to donate their vehicles […] [Read More]

DEARBORN, Mich. — Though revenues slipped, Ford Motor Credit Co. saw its net income jump $70 million on a year-over-year basis during the third quarter, the company said Thursday. Specifically, net income for Ford Credit was $497 million, compared with $427 million in the prior-year period. Before taxes, Ford Credit's income was $766 million, up from $677 […] [Read More]

DETROIT — Ally Financial recently announced the opening of an exchange offer for its outstanding 8.3 percent senior guaranteed notes that are due 2015. Company management originally issued an aggregate principal amount of $2 billion of the old notes in a private offering on Feb. 12. In connection with the sale of the old notes, […] [Read More]

NEW YORK — Last week, Fitch Ratings affirmed the outstanding notes of Hyundai Auto Receivables Trust 2007-A as part of its ongoing surveillance process. Fitch explained the rating reflects the quality of Hyundai Motor Finance's retail auto loan originations, the sound financial and legal structure of the transaction, and servicing provided by the lender. Fitch decided […] [Read More]

McLEAN, Va. — Capital One Financial Corp. showed more than a 61-percent year-over-year gain in auto loan originations during the third quarter. Moreover, on a sequential basis, they were up more than 38 percent. More specifically, Capital One had $2.44 billion in auto loan originations during the period, compared with $1.51 billion in the year-ago period and […] [Read More]

The ServNet Auction Group announced a new member of its board of directors. Voted into the role was Doug Doll, who is KCI Auto Auction’s owner and general manager. Doll, who will serve a two-year term, replaces Flint Auto Auction’s John Luce, as Luce’s term has on the board had wrapped up. Doll joins the existing […] [Read More]

The Federal Trade Commission is wary some debt collectors and recovery agencies could be violating federal consumer protection laws when attempting to collect debt owed by the deceased. As a result, federal officials are proposing a new policy statement to govern collectors’ actions. Moreover, they are also seeking public comment about the proposed policy. The FTC believes […] [Read More]

Sparked by what top management described as a reinvigorated focus on increasing used-vehicle sales, Penske Automotive Group posted significant gains in third-quarter income. Sharing their financial report late last week, Penske executives said third-quarter income from continuing operations attributable to common shareholders came in at $31 million or 34 cents per share. During the same […] [Read More]